Comment Text:
Dear Chairman and Commissioners,
My name is Taylor Bond, and I'm just an everyday citizen from Washington state writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I strongly support the idea of well-regulated prediction markets. I hope the CFTC will create rules that allow people like me to keep participating in these markets without pushing activity to less safe, offshore alternatives.
I got into prediction markets because they offer a unique way to engage with real-world events, and honestly, the information I get from the prices is often better than what I see in the news or on social media. I'm not a big investor or anything, just a regular person who likes having the freedom to participate in a legal, regulated space like Kalshi. To me, these event contracts aren't gambling. They're a way to make informed decisions based on research and judgment, much like trading stocks or other investments. I often use them to hedge small risks, like how an election might impact my taxes or a policy change might affect costs I deal with. Classifying this as gaming feels wrong when it serves real economic purposes.
I also believe regulated markets are the way to go. Platforms like Kalshi, under CFTC oversight, are far safer than unregulated offshore sites. If the rules become too restrictive, people won't stop trading; they'll just move to sketchy platforms with no protections. That hurts consumers like me. On that note, I'm glad the CFTC is asking about consumer protection versus innovation in questions 7 through 14 of the ANPR. I think you can balance both by keeping these markets open under clear, fair rules. The U.S. should be leading the way in financial innovation, not letting other countries take over because we're too cautious.
Another concern Ive seen raised is manipulation or insider trading, and I get why that's a worry. But the CFTC already has strong tools to tackle those issues in other markets, and I trust you can adapt them here. Banning or over-restricting prediction markets to stop a few bad actors doesn't seem fair to the rest of us. Plus, as you ask in questions 29 to 32, informed trading often improves price discovery. When people with knowledge trade, the prices get more accurate, and that benefits everyone, not just the traders.
I'm just one voice, but I hope you'll consider folks like me who value these markets. Please support proportionate regulation that lets prediction markets thrive under your oversight, without broad bans or overly tight restrictions. Thank you for taking the time to read my thoughts.
Sincerely,
Taylor Bond
